The Oklahoma Corporation Commission sent out a correction Thursday to its original announcement about the ONG rate hike and how much it will affect residential customers. The Commission approved a settlement agreement which will initially result in an average increase of $1.27 in the average residential bill stated the correction version. However, the settlement includes a …
December 2021 archive
Record $5.3 billion in revenue from oil and gas in New Mexico
Those New Mexico leaders who want to shift away from oil and gas toward renewable energy sources have a good reason to reconsider—oil and gas just pumped a record $5.3 billion into the state’s governments over the past fiscal year. The Santa Fe New Mexican reports a new report by New Mexico Tax Research …
Investigators stall approval of nuke storage site in New Mexico
Efforts to create another high-level nuclear waste storage site in southeast New Mexico were delayed this week as federal regulators weren’t satisfied with the answers they got from the company behind the project. The Carlsbad Current-Argus reported Holtec International was notified of the delay in approval for its plans to build the facility near the …
ONE Gas to participate in December symposium
Tulsa-based ONE Gas, Inc. will take part in the upcoming Wells Fargo Midstream, Utility & Renewables Symposium. The virtual participation will be on Wednesday, Dec. 8, 2021. Robert S. McAnnally, president and chief executive officer, Caron Lawhorn, senior vice president and chief financial officer, and Curtis Dinan, senior vice president and chief operating …
ConocoPhillips completes all-cash Permian asset acquisition
ConocoPhillips announced that it has completed its acquisition of Shell Enterprises LLC’s prolific Delaware basin position for $9.5 billion in cash. After customary closing adjustments, cash paid for the acquisition is approximately $8.6 billion, with an effective date of July 1, 2021. The assets include ~225,000 net acres and producing properties located entirely in Texas, …
Centennial Resource Development announces closing of non-core asset divestiture
Denver-based Centennial Resource Development, Inc. announced it has closed the previously announced sale of non-core assets to affiliates of Henry Resources, LLC and Pickering Energy Partners, LP for a cash purchase price of $101 million, subject to customary closing adjustments. The properties sold include approximately 6,200 net leasehold acres and related assets located on …
SandRidge Energy, Inc. to be part of energy conference
SandRidge Energy, Inc. plans to take part in an upcoming energy conference. It will participate in the Capital One Securities 16th Annual Energy Conference to be held virtually on December 6-8, 2021. The presentation materials to be used at the conference are available on the Company’s website at http://investors.sandridgeenergy.com/Investor-Relations.
Slight increase in crude storage at Cushing
The amount of crude oil stored in the Cushing hub improved only a little this week compared to last week as the massive operation holds only about a third of what it can contain in storage. The U.S. Energy Information Administration reported Wednesday that the amount of crude in storage at the facility totaled …
Questions raised about EPA’s Renewable Fuel Standard
A research scientist at the University of Michigan contends the U.S. biofuel mandate certainly helps American farmers but does little for energy security and actually harms the environment. It’s the contention of John DeCisso, Research Professor Emeritus who argues the Renewable Fuel Standard, one that came into focus in an unsuccessful lawsuit involving an …
Regulators approve rate hike for ONG customers
The Oklahoma Corporation Commission has approved a settlement agreement which will result in an estimated rate increase of 34 cents in the monthly bill of an average residential Oklahoma Natural Gas (ONG) customer. Residential ONG customers who use for than 5,000 dekatherms will see a monthly increase of 50 cents per month according to …